FRANKFURT, Jan 14 (Reuters) - The DAX top-30 index looked set to open 0.8 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.5 percent lower
The top executive at Daimler said on Monday the German automaker was likely to achieve its cost-savings target earlier than expected - and he declined to rule out the possibility the savings might exceed the company’s goals.
Deutsche Bank indicated 1.5 percent lower
Commerzbank indicated 1.7 percent lower
Germany’s banks have made little progress on efforts to curb bonuses of top managers ahead of new European rules designed to control the type of risky behaviour that fuelled the financial crisis, the country’s financial watchdog said on Monday.
Separately, Australia’s Link Market Services said on Tuesday it had agreed to buy a share registry business from Deutsche Bank in a bid to broaden its global footprint. Financial terms were not disclosed.
Indicated 0.1 percent lower
U.S. based-Regeneron Pharmaceuticals Inc and Bayer said they would co-develop an antibody for use in combination with Eylea, their treatment for a form of age-related blindness.
Indicated 0.4 percent lower
Norwegian energy firm Statoil awarded two contracts worth 516 million pounds ($845.36 million) to Siemens for work on the Dudgeon Offshore Wind Farm in the British sector of the North Sea, Statoil said on Tuesday.
Indicated 13.7 percent lower
U.S. drugs wholesaler group McKesson said on Monday it had failed to win enough support for a $8.4 billion offer to buy German distributor Celesio, leaving it empty-handed in a sector where cross-border consolidation is accelerating.
Indication not available
EU Commissioner Neelie Kroes is concerned about the planned tie-up of E-Plus and Telefonica Deutschland in Germany, she told German paper Rheinische Post, adding the newly created entity may have less of an incentive to offer access to its networks at fair conditions.
VOLKSWAGEN - UBS cuts to “sell” from “neutral”
FRAPORT - Barclays cuts to “equal weight” from “underweight”
Dow Jones -1.1 pct, S&P 500 -1.3 pct, Nasdaq -1.5 pct at Monday’s close.
Nikkei -3.1 pct at Tuesday’s close.
German December wholesale price index +0.4 pct m/m, -1.8 pct y/y. Reuters poll was for +0.1 pct m/m, -2.1 pct y/y.
REUTERS TOP NEWS ($1 = 0.6104 British pounds) (Reporting by Harro ten Wolde and Christoph Steitz)